Audentes Therapeutics (NASDAQ:BOLD) Lifted to “Buy” at Zacks Investment Research

Zacks Investment Research upgraded shares of Audentes Therapeutics (NASDAQ:BOLD) from a hold rating to a buy rating in a report released on Wednesday, Zacks.com reports. Zacks Investment Research currently has $40.00 price target on the biotechnology company’s stock.

According to Zacks, “Audentes Therapeutics, Inc. is a biotechnology company which focused on developing and commercializing gene therapy products for patients suffering from serious, life-threatening rare diseases. The company’s product pipeline consists of AT132 for the treatment of X-linked myotubular myopathy; AT342 for the treatment of crigler-najjar syndrome type 1; AT307 for the treatment of the CASQ2 subtype of catecholaminergic polymorphic ventricular tachycardia and AT982 for the treatment of pompe disease, which are in pre-clinical trial stage. Audentes Therapeutics, Inc. is based in San Francisco, California. “

Other equities research analysts also recently issued research reports about the company. Citigroup set a $221.00 price target on 3M and gave the stock a buy rating in a report on Friday, April 26th. Wedbush reissued a hold rating and issued a $2.00 price target on shares of Regulus Therapeutics in a report on Tuesday, April 9th. Leerink Swann reissued an outperform rating and issued a $48.00 price target (up previously from $37.00) on shares of Audentes Therapeutics in a report on Wednesday, April 17th. BidaskClub raised Xilinx from a hold rating to a buy rating in a report on Saturday, June 29th. Finally, Piper Jaffray Companies set a $20.00 price target on Immunomedics and gave the stock a buy rating in a report on Monday, April 8th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and fourteen have issued a buy rating to the stock. The company presently has a consensus rating of Buy and an average target price of $39.99.

Shares of BOLD stock opened at $34.29 on Wednesday. Audentes Therapeutics has a 1-year low of $17.95 and a 1-year high of $42.69. The company’s 50-day moving average is $37.65. The company has a market capitalization of $1.52 billion, a P/E ratio of -10.09 and a beta of 1.70.

Audentes Therapeutics (NASDAQ:BOLD) last issued its quarterly earnings results on Tuesday, May 7th. The biotechnology company reported ($1.13) earnings per share for the quarter, missing the consensus estimate of ($0.90) by ($0.23). During the same period last year, the business earned ($0.74) earnings per share. Equities analysts anticipate that Audentes Therapeutics will post -4.43 EPS for the current fiscal year.

In other news, Director Louis G. Lange sold 21,000 shares of the firm’s stock in a transaction dated Monday, June 24th. The stock was sold at an average price of $37.79, for a total value of $793,590.00. Following the completion of the transaction, the director now directly owns 290,001 shares in the company, valued at $10,959,137.79. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Suyash Prasad sold 10,000 shares of the firm’s stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $36.98, for a total value of $369,800.00. Following the completion of the transaction, the vice president now owns 28,236 shares of the company’s stock, valued at $1,044,167.28. The disclosure for this sale can be found here. Company insiders own 5.30% of the company’s stock.

Large investors have recently made changes to their positions in the company. Millennium Management LLC purchased a new position in shares of Audentes Therapeutics in the fourth quarter worth about $12,600,000. Marshall Wace North America L.P. purchased a new position in shares of Audentes Therapeutics in the first quarter worth about $4,584,000. JPMorgan Chase & Co. raised its stake in shares of Audentes Therapeutics by 5.9% in the first quarter. JPMorgan Chase & Co. now owns 128,266 shares of the biotechnology company’s stock worth $5,005,000 after purchasing an additional 7,114 shares during the last quarter. DekaBank Deutsche Girozentrale raised its stake in shares of Audentes Therapeutics by 22.3% in the first quarter. DekaBank Deutsche Girozentrale now owns 11,500 shares of the biotechnology company’s stock worth $418,000 after purchasing an additional 2,100 shares during the last quarter. Finally, JGP Global Gestao de Recursos Ltda. purchased a new position in shares of Audentes Therapeutics in the first quarter worth about $264,000. Hedge funds and other institutional investors own 98.71% of the company’s stock.

About Audentes Therapeutics

Audentes Therapeutics, Inc, a clinical stage biotechnology company, focuses on developing and commercializing gene therapy products for patients living with serious, life-threatening rare diseases caused by single gene defects. The company is developing AT132, which is in Phase I/II clinical studies for the treatment of X-linked myotubular myopathy (XLMTM); AT342 that is in Phase I/II clinical studies to treat crigler-najjar syndrome; AT845, which is in preclinical studies for the treatment of pompe disease; and AT307 to treat CASQ2 subtype of catecholaminergic polymorphic ventricular tachycardia.

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